Some very basic guidelines for agents wanting to reduce the risk of falling foul of the CPRs include:
- Remember that a material action/omission is likely to be anything that could cause an ‘average consumer’ to take a transactional decision he would otherwise not have made if he had full disclosure
- Assess the accuracy of the information provided to you about a property and seek additional information if required
- Make tenants aware of publicly available information which may impact on their decision-making process
- Avoid putting pressure on tenants to act quickly or make a hurried decision
- Ensure sure your records of any material information associated with a property transaction are clear and kept up to date, including any communications. This could prove vital in defending against any claim
- Mistakes can still be made so ensure you have professional indemnity insurance in place to handle any claim in relation to breaches of the CPRs. Custodian Insurance’s Professional Indemnity Insurance (PII) is specifically designed for property agents. With its experienced legal team defending Ombudsman claims including innocent CPRs breaches, it can provide at least some security in a time of considerable uncertainty
This list is not exhaustive and however careful you are it is advisable to have professional indemnity in place. Please call 0207 648 4343 or complete the call back form below:
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